Activity Review
North Carolina State
Board of Certified Public
Accountant Examiners
1101 Oberlin Road, Suite 104 • PO Box 12827 • Raleigh, NC 27605 • 919-733-4222 • No. 12-2007
Important December Deadlines
December 31, 2007, is not only the dead¬
line for submitting 2008 CPA firm re¬
newal and peer review compliance in¬
formation to the Board, but it is also the
date by which North Carolina CPAs
must complete the CPE requirement to
be eligible for certificate renewal for the
2008-2009 license period.
In November, the Board notified
all registered firms that the firms must
renew their registrations and provide
peer review compliance information
online through the Board's web site,
www.nccpaboard.gov.
For additional information regard¬
ing online firm renewal /peer review
compliance process, please see the No¬
vember 2007 issue of the Activity Re¬
view.
If a CPA firm fails to comply with
any part of 21 NCAC 08], Renewals and
Registrations or 21 NCAC 08M, Peer
Review Program, the Board may take
disciplinary action against the CPA
firm’ s members as specified in 2 1 NCAC
08J. 0111 and 21 NCAC 8M .0106.
Such action may include a condi¬
tional license, civil penalty, and sus¬
pension of each CPA firm member's
CPA certificate.
Tobeeligible for certificate renewal
in 2008, active licensees must complete
the CPE requirement by December 31,
2007.
As part of the annual CPE require¬
ment, active licensees must complete at
least eight hours of non-self-study CPE
each year. All active licensees must also
complete either a Board-approved two-
hour group-study course or a Board-
approved four-hour self-study course
on professional ethics and conduct.
A non-resident licensee may sat¬
isfy this requirement by completing the
ethics requirements in the jurisdiction
in which he or she is licensed and works
or resides.
If there is no ethics CPE require¬
ment in the jurisdiction in which the
individual is licensed and resides or
works, he or she must complete one of
the Board’s approved ethics CPE
courses.
A complete list of Board-approved
ethics CPE courses is available on the
Board's web site, www.
nccpaboard.gov.
If a CPA fails to complete the CPE
requirements prior to the end of the
previous calendar year, but completes
them by June 30, the Board may issue a
letter of warning for the first such fail¬
ure within a five calendar year period.
For the second such failure within a
five calendar year period, the Board
may deny the renewal of the CPA’s
certificate for a period of not less than
30 days and until the CPA meets the
reinstatement requirements set forth in
21 NCAC 08] .0106 .
If you have questions about firm
renewal, peer review compliance, or
the CPE requirement, please contact
Lisa Moy by telephone at (919) 733-
1423 or by e-mail at lmoy@
nccpaboard.gov. You may also contact
Buck Winslow by telephone at (919)
733-1421 or by e-mail at
buckw@nccpaboard.gov.
Are You Practicing
Law?
North Carolina General Statute
(NCGS) 93-1 (b) prohibits CPAs from
engaging in the practice of law un¬
less duly licensed to do so;
NCGS 84-2.1 and 4 define which
activities constitute the practice of
law.
The statutes identify certain spe¬
cific activities as the practice of law,
including the organizing of corpora¬
tions, the preparation and filing of
legal pleadings, the preparation and
filing of estate inventories and ac¬
countings with the Clerk, and the
preparation of wills and trusts.
Practice of Law
continued on
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6
www.nccpaboard.gov
In This Issue...
2008 Board Meeting Dates . 2
Annual Ethics CPE Requirement.... 3
Board Office Closed . 3
Cease and Desist Order:
Patti D. Royster . 4
Certificates Issued . 6
Disciplinary Actions . 2
Important 2008 Dates and
Deadlines . 7
NCGS 93-13 Amended . 6
Notice of Address Change . 8
Reclassifications . 5
Subpoenas for Client Records . 4
